Minbos Resources Ltd, an Australian explorer, is targeting the production of phosphate in Angola in the next three years. “The fertiliser market is booming and there are a lot of opportunities for phosphate,” Minbos’ non-executive director Dave Reeves explained to IM.
In Angola, the Australia-based company owns the Cabinda project, a 50:50 joint venture with LR Group. The licence includes the Mongo Tando prospect in the west and the Cacata prospect in the east. Minbos acquired the deposit in mid-2010 as it believes “it is one of the last major sedimentary phosphate deposits in the world adjacent to the ocean”.
“This location is the key to the deposit as transport costs will be kept to a minimum. Phosphate being a bulk commodity, this is often the major cost involved in exploiting a deposit,” Reeves said.
Exploration work was conducted by Companhia de...